Bangladesh is a compelling case for UK investors: Speakers

Public and private sector leaders of Bangladesh and UK came together at "Showcase Bangladesh 2021: Bangladesh-UK Investment Summit", to discuss the many win-win propositions that can take UK-Bangladesh trade and investment relations to new heights. 

Speakers touched upon the compelling growth story of Bangladesh, with solid fundamentals and growth drivers leading to optimism about sustained growth. 

There is a long-term integrated masterplan in place that connects infrastructure, industry, agriculture, urbanisation, mitigation of climate change risk, and sustainability, leveraging each of these areas to create shared prosperity. 

FDI and international technical collaboration will greatly accelerate the attainment of these sustainable development plans, with the speakers making the case for greater engagement for UK investors in Bangladesh, one of the world's fastest growing economies.

The event was jointly organised by Standard Chartered and Bangladesh Investment Development Authority (BIDA) and took place in London on 4 November, said a press release. 

Highly placed delegates representing UK public and private sectors, policymakers, investors, bankers and economists, along with prominent leaders from Bangladesh's private and public sectors were in attendance. 

Salman Fazlur Rahman, Private Sector Industry and Investment adviser to the prime minister, State Minister for ICT Zunaid Ahmed Palak; Md Sirazul Islam, executive chairman of Bangladesh Investment Development Authority; Robert Chatterton Dixon, British High Commissioner to Bangladesh; Saida Muna Tasneem, Bangladesh High Commissioner to the UK, Ireland and Liberia and Md Jashim Uddin, president of Federation of Bangladesh Chambers of Commerce & Industry attended the event.

Naser Ezaz Bijoy, chief executive officer of Standard Chartered Bangladesh, said, "2021 is a very special year for Bangladesh, as we celebrate 50 years of our achievements as a nation. Bangladesh's achievements in terms of growth in nominal GDP in the first 36 years since independence was trebled in a third of the time, over the last 12 years. 

"Despite the challenges posed by pandemic, the country achieved one of the highest economic growth rates in the world, thanks to judicious policy intervention by the government and the resiliency of the people."

Salman Fazlur Rahman said, "The sustained, broad-based growth Bangladesh achieved over the last decade did not happen by accident, it was achieved through insightful planning and visionary leadership of our honourable prime minister."

He said, "Now, in order to beat the 'middle-income trap' and become a high-income nation by 2041, we need to continue to develop our domestic markets and diversify our export baskets – both of which would be catalysed by FDI and domestic investment"